, brands have adopted multiple strategies for customer retention….

Question Answered step-by-step , brands have adopted multiple strategies for customer retention…. , brands have adopted multiple strategies for customer retention. Loyalty programs are one strategy. These programs can be controversial among marketers (and consumers). On the one hand, loyalty programs have shown increased customer retention, incremental sales improvement, and referrals. On the other hand, programs are expensive to operate, difficult to administer, and may reward existing consumers who would buy anyway. “America’s Best Loyalty Programs 2022.” Before answering the questions below, briefly summarize the program overall and why you chose to analyze it. QUESTION 1A Value Proposition is a declaration of intent or a statement that tells consumers what to expect; it refers to what a company promises to deliver to customers. Without an official name, you’ve assessed Value Propositions throughout your life when you ask the question “What’s in it for Me?” A Value Proposition is critical to all marketing efforts. Briefly describe the Value Proposition for your chosen program. Said another way, why would someone join this program, and what will motivate them to stay? think they do a good job conveying this? Why or why not?QUESTION 2Beyond “What’s in it for Me,” the secondary driver of participation in Loyalty Programs is “How to Participate”. Brands often over communicate “How to Participate” at the detriment of their marketing efforts. For your chosen program, briefly summarize “How to Participate,” describe how easy (or difficult) it is to participate, and then describe if the brand has effectively linked participation/loyalty to customer profitability. Arts & Humanities Communications Marketing MK 8720 Share QuestionEmailCopy link Comments (0)